Insider Selling: Mirum Pharmaceuticals (NASDAQ:MIRM) CEO Sells $1,978,400.00 in Stock

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) CEO Christopher Peetz sold 20,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $98.92, for a total value of $1,978,400.00. Following the sale, the chief executive officer owned 194,309 shares in the company, valued at approximately $19,221,046.28. This represents a 9.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Christopher Peetz also recently made the following trade(s):

• On Monday, July 6th, Christopher Peetz sold 20,000 shares of Mirum Pharmaceuticals stock. The stock was sold at an average price of $122.27, for a total value of $2,445,400.00.
• On Monday, June 1st, Christopher Peetz sold 30,000 shares of Mirum Pharmaceuticals stock. The shares were sold at an average price of $95.84, for a total value of $2,875,200.00.

Mirum Pharmaceuticals Price Performance

NASDAQ MIRM opened at $98.77 on Friday. Mirum Pharmaceuticals, Inc. has a one year low of $63.23 and a one year high of $130.00. The stock has a 50-day moving average of $110.77 and a 200 day moving average of $102.00. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.74 and a current ratio of 2.86. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of -6.79 and a beta of 0.52.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. The company had revenue of $176.24 million for the quarter, compared to the consensus estimate of $166.33 million. During the same quarter in the prior year, the company posted ($0.12) EPS. Mirum Pharmaceuticals’s revenue was up 37.9% on a year-over-year basis. On average, sell-side analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.31 EPS for the current year.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of hedge funds have recently made changes to their positions in MIRM. Algert Global LLC bought a new position in Mirum Pharmaceuticals during the second quarter valued at approximately $3,945,000. Sanctuary Advisors LLC bought a new position in Mirum Pharmaceuticals during the 2nd quarter valued at about $217,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Mirum Pharmaceuticals during the second quarter valued at approximately $49,177,000. Quantbot Technologies LP purchased a new stake in Mirum Pharmaceuticals in the second quarter worth $44,000. Finally, William Blair Investment Management LLC purchased a new position in Mirum Pharmaceuticals in the 2nd quarter worth about $164,453,000.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MIRM shares. Weiss Ratings raised Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, August 6th. Robert W. Baird set a $123.00 price objective on shares of Mirum Pharmaceuticals in a research note on Thursday, August 6th. TD Cowen dropped their price objective on shares of Mirum Pharmaceuticals from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. CLSA set a $146.00 target price on shares of Mirum Pharmaceuticals in a report on Monday, June 15th. Finally, Citigroup reiterated an “outperform” rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Mirum Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $137.33.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company’s primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum’s lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.